Who Has Cheap Greensboro Car Insurance Rates for Business Use?

You have most likely watched the catchy advertisements from insurers like GEICO, Liberty Mutual, and State Farm promising the cheapest rates. So you should just pick one randomly, right?

It’s just not that easy, however, as there are a whole slew of unknown aspects like whether you are married or single, what physical damage coverage deductibles you want, and what liability limits you need. We will touch on the best ways to avoid paying too much and will hopefully give you a good beginning to your quest for cheaper car insurance.

The vehicle model you are trying to insure is probably the largest consideration when shopping around for cheap insurance for business use. Vehicles with reasonable performance levels, modern passenger safety features, or a low likelihood of having liability claims will cost significantly less to insure than adrenaline junky models.

The next list illustrates auto insurance costs for a number of the cheaper vehicles to buy coverage for.

Cheapest Vehicles to Insure in Greensboro, NC
Make and Model Estimated Cost for Full Coverage
Honda CR-V EX 2WD $1,197
Ford Escape XLS 2WD $1,235
Toyota Tacoma 2WD $1,270
Honda Accord EX-L 4-Dr Sedan $1,306
Volkswagen Jetta S 2.5 Station Wagon $1,315
Hyundai Elantra SE Touring Station Wagon $1,306
Ford Explorer Eddie Bauer 4WD $1,320
Toyota Prius $1,334
Honda Civic VP 4-Dr Sedan $1,341
Toyota Camry SE $1,367
Toyota Corolla XRS $1,391
Jeep Grand Cherokee Limited 4WD $1,397
Toyota RAV4 4WD $1,416
Dodge Grand Caravan SXT $1,445
Ford F-150 XLT Crew Cab 4WD $1,453
Jeep Wrangler Unlimited Sahara 2WD 4-Dr $1,452
Chevrolet Impala LT $1,457
Chevrolet Silverado LT Extended Cab 4WD $1,463
GMC Sierra 2500HD SLT Extended Cab 4WD $1,459
Toyota Camry Hybrid $1,480
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Price data assumes single male driver age 30, no speeding tickets, no at-fault accidents, $1,000 deductibles, and North Carolina minimum liability limits. Discounts applied include multi-vehicle, homeowner, safe-driver, claim-free, and multi-policy. Rate quotes do not factor in Greensboro, NC location which can increase or decrease coverage rates significantly.

Looking at the rates, cars like the Honda CR-V, Ford Escape, Toyota Tacoma, Honda Accord, and Volkswagen Jetta will definitely be a few of the cheapest vehicles to insure for using your car for business. Prices will be higher anyway because there is more inherent risk for business use, but overall those specific models will probably have the cheapest car insurance rates compared to other vehicles.

One of the more important criteria that help determine the cost of insurance is where you live in Greensboro. Larger areas tend to pay slightly more, whereas areas with less congestion tend to receive cheaper rates.

The following table sorts the priciest cities in North Carolina for business use to purchase auto insurance in. Greensboro is ranked #11 with the annual price of $756 for the average insured, which is around $63 each month.

How much is auto insurance in Greensboro, NC?
Rank City Average Per Year
1 Fayetteville $905
2 Jacksonville $873
3 Charlotte $816
4 Gastonia $811
5 Durham $797
6 Wilmington $788
7 Raleigh $767
8 Cary $765
9 Huntersville $764
10 Goldsboro $758
11 Greensboro $756
12 High Point $753
13 Indian Trail $753
14 Wilson $746
15 Apex $739
16 Greenville $738
17 Hickory $732
18 Rocky Mount $718
19 Winston Salem $716
20 Chapel Hill $703
21 Kannapolis $697
22 Concord $697
23 Asheville $687
24 Salisbury $684
25 Burlington $678
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Information shown are comparative as specific Greensboro zip code can decrease or increase premium rates greatly.

Finding the best insurance provider is difficult considering how many choices you have in North Carolina. The company information shown next may help you choose which car insurance companies you want to consider when trying to find cheaper insurance for business use. These rankings include large, nationwide insurance companies, so smaller regional companies will not be included in the list.

Top 10 Large Car Insurance Companies in Greensboro Ranked by Customer Satisfaction

  1. USAA – 91%
  2. AAA Insurance – 90%
  3. Esurance – 90%
  4. Nationwide – 89%
  5. Travelers – 88%
  6. Progressive – 88%
  7. Safeco Insurance – 88%
  8. State Farm – 88%
  9. Allstate – 88%
  10. The Hartford – 87%

Top 10 Large Car Insurance Companies in Greensboro Ranked by Value

  1. Travelers
  2. American Family
  3. AAA Insurance
  4. Safeco Insurance
  5. Progressive
  6. The Hartford
  7. The General
  8. 21st Century
  9. Esurance
  10. Titan Insurance

Careless driving habits raise car insurance rates

The common sense way to receive cheap car insurance prices for using your car for business is to drive safely and avoid getting tickets or having accidents. The diagram below highlights how traffic violations and at-fault fender-benders can impact insurance prices for each different age group. The premiums assume a single male driver, comprehensive and collision coverage, $1,000 deductibles, and no other discounts are factored in.

The data in the chart shows the average cost of car insurance in Greensboro per year with a clean driving record and no accidents is $1,053. Factor in one speeding ticket and the average cost hikes up to $1,187, an increase of $135 each year. Then add two accidents along with the one speeding ticket and the annual cost of car insurance for business use goes up to an average of $2,451. That’s an increase of $1,398, or $117 per month, just for not paying attention while driving!

Chances are good that you’re overpaying for Greensboro car insurance

Greensboro car insurance rates are influenced by many factors which can substantially decrease or increase the cost of your policy. Improving your credit rating, buying a new vehicle, or having an at-fault accident can trigger price changes that may make certain companies much cheaper than others.

Not only may things change on your end, but car insurance companies amend premium rates as often as every quarter in order to offset underwriting gains or losses. A period of higher than normal claims may result in increased rates, while less frequent claims can produce lower-cost Greensboro car insurance rates.

The chart below shows the companies that have the cheapest car insurance in Greensboro, NC for a 45-year-old male driver with a good driving record, no prior claims, and a good credit history. Based on his personal profile, Progressive might quote the most affordable car insurance rates in Greensboro at $745 annually. This is $127 less than the average premium paid by North Carolina drivers of $872. Utica National, NC Farm Bureau, Liberty Mutual, and GEICO also make the list of the best Greensboro, NC auto insurance companies.

Now we will give the driver from above some claims, a lower credit rating, and a speeding ticket. Due to the fact that every auto insurer has a different formula for setting rates, analyzing rate quotes may now show a significantly different list of the cheapest Greensboro car insurance companies as shown below.

Penn National now has the best auto insurance rate in Greensboro with State Farm, Utica National, Auto-Owners, and Erie now rounding out the top five. This example illustrates why it is important to do a thorough rate comparison when trying to find the cheapest car insurance quotes for business use.

Rates can be determined by many risk factors and change frequently, so the most economical company the last time you compared rates may now not even be in the top five.

How to find low-cost auto insurance for business use

The list below summarizes some of the recommended penny-pinching ideas that can help Greensboro drivers find low-cost auto insurance.

That last idea is very important, as was stressed in this piece. Coverage rates change constantly, so don’t be unwilling to buy from a new company if a more affordable rate is found. Many consumers stick with the same company and that’s fine, but we do not recommend it if that stubbornness costs you lots of hard earned cash every month. Spend a few minutes and shop around to find cheaper insurance for business use in Greensboro.